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CySEC issues statement on allegations against Cypriot Forex brokers

The Cyprus Securities and Exchange Commission (CySEC) has issued a statement regarding allegations regarding FX brokers.

In 2022, CIFs’ Total Assets recorded an extraordinary year-on-year reduction of 53%, for the first time during the four-year period.

Dr Theocharides, stressed there would be no tolerance for CIFs that do not comply with the regulatory framework.

CySEC reports that, during 2020, the income derived from the activities of Cyprus Investment Firms (CIFs) amounted to €1.9 billion.